In the last 24 hours, the cryptocurrency market experienced liquidations worth $566 million. The prices of Bitcoin 
$78,680, Ethereum 
$2,316, and several prominent altcoins saw significant declines. This downturn followed a large-scale cyber attack on the Bybit exchange, which resulted in the theft of $1.4 billion worth of Ethereum. The loss created a state of panic across the market.
Bitcoin and Ethereum Take a Dive
Bitcoin lost 2% of its value, dropping to $96,000 within the last 24 hours. It recorded a low of $94,000 and a high of $99,000. Ethereum fell by 3%, now priced at $2,674. Other cryptocurrencies like XRP and Solana 
$84 also faced losses of 3% and 2%, respectively.
These losses increased liquidation pressure throughout the market, with millions of dollars in liquidations reported for BTC and ETH. The total value of the cryptocurrency market decreased by 2%, now standing at $3.17 trillion.
Rising and Falling Cryptocurrencies
Some cryptocurrencies positively reacted to this volatility, showing gains. Ethena increased by 11%, Bitget Token by 8%, and Jito by 5%. Positive announcements from projects and market expectations contributed to these gains.
However, assets like Mantle, Berachain, and Sonic experienced more severe declines. Experts suggest that the impact of the hack on the market may persist for some time. Due to the volatility in the market, investors are advised to exercise caution.
